John Michael Radziwill, the boss of Monaco-based GoodBulk, has announced a $10.9 milliion net profit for the fourth quarter, resulting in earnings per share (EPS) of $0.36, and a dollar dividend to his shareholders, GoodBulk’s eighth consecutive quarterly handout.
Radziwill claims that this is many times more than anyone else, adding that his company has been “massively outperforming” the cape market as a result of the performance of its capesize pool and the ability to properly time market swings, splash247 reports.
“The platform we have should be recognised as best in class,” Radziwill said, adding: “We can show our industry is a profitable one if operated with discipline and in the right manner.”
“We think there is light in the cape market for 2020 and beyond,” he said, going on to describe what he terms as the “coiled spring effect” that ought to manifest the market in the coming months as the coronavirus eases. The orderbook remains low with Radziwill saying any owner would have to be “very brave” to contract today and scrapping levels are increasing.
PHOTO: John Michael Radziwill
